Dennis Charles Sauter Jr. - 08 May 2024 Form 4 Insider Report for NexPoint Real Estate Finance, Inc. (NREF)

Role: General Counsel
Signature: /s/ Brian Mitts, as attorney-in-fact for Dennis Charles Sauter Jr
Issuer symbol: NREF
Transactions as of: 08 May 2024
Net transactions value: -$9,432
Form type: 4
Filing time: 09 May 2024, 16:32:08 UTC
Previous filing: 08 Apr 2024
Next filing: 14 May 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NREF	Common Stock	Options Exercise		+1,445	+7.8%		20,045	08 May 2024	Direct	F1
transaction	NREF	Common Stock	Tax liability	$9,432	-689	-3.4%	$13.69	19,356	08 May 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NREF	Restricted Stock Units	Options Exercise	$0	-1,445	-100%	$0.000000^*	0	08 May 2024	Common Stock	1,455		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of common stock of NexPoint Real Estate Finance, Inc.
F2	On June 24, 2020, the reporting person was granted 5,780 restricted stock units. The restricted stock units vested one-fourth on June 24, 2021, one-fourth on May 8, 2022, one-fourth on May 8, 2023, and one-fourth on May 8, 2024. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash.